Yes there are lots of these chains coming out because nobody wants to use ETH because transactions are expensive and nobody wants to use CEX because of what happened to FTX.

So Defi is definitely the future and hence why these chains are being developed. The issue is that they are rushed and have lots of bugs. Even a few days ago Sushi swap had a bug and over $3M was stolen. And it will get worse with these new chains and smart contracts if they are all badly coded and rushed for launched.

Keep in mind the airdrop is probably over a year away or so. It’s not coming anytime soon. Especially since Era was just launched.

Basically do the usual. Just bridge and use the network. And don’t create too many wallets, they will find that out and you won’t get any airdrops. So trade, lend and buy NFTs and you should get the air drop.

I think the reason why many struggle with finance is because they are burdened with debt at a young age and think it’s normal to always have debt.

Look how easy it is to get a credit card these days. After a few months of using a credit card they want to offer you a higher limit, just so they can make more money off you. And that’s how the cycle starts. Later it’s another credit card and maybe a car loan or Line of credit and you are pretty much trapped.

So he is finally back at break even. Very crazy how he started out with a good dollar average and then by buying high he put himself in a huge bad bag holding position for over a year. Very glade that he wasnt margin called below $20K like many said he would.

Now we just need to make sure he doesn’t start dumping. Due to the state of the economy he might be forced by his shareholders or management to lighten his load and scale out. If we see that during his earnings report then I’ll cause a sell off obviously.

Yes this week we get CPI and FOMC minutes. If we get sticky inflation we can head back down to below $30K and the stock market can go targeting 4000 SPX again.

The bond market changes its mind almost weekly. Now we got a rate hike priced in for May. Which is obviously not good for Bitcoin. And there are also bank earnings coming late this week and will be interesting to see what mess SVB has started.

Basically you need to use a different chain like Arbitrium or even something cheaper like Polygon. Polygon is a fraction of a cent for a regular transaction that can cost 20 cents on Arbitrium or like $5 on ETH.

So bridge to that chain and use it for your transactions. However keep in mind that bridging from ETH is never cheap. So if you are using a CEX just withdraw into that chain from the CEX instead of bridging. It’ll be much cheaper.

Defi will definitely gain more popularity in the near future. Especially since FTX caught many people off guard. So I think there will be more and more dex services coming out now since many don’t want to use CEX except for a fiat on and off ramp pretty much.

Regarding the tokens values keep in mind that most tokens are near lows now compared to the highs of the bull market. So just because the token is cheaper doesn’t mean the project is a failure. It’s not trading like a stock of a company where if it falls you think it’s about to go under.

Yeah I am surprised we got a big name that got hacked recently. I would of assumed since Sushi was out for a while that their code was foolproof but I guess not.

Hence why you need to be careful keeping any large amounts of funds with any of these services. If you are going to allow a contract to spend your tokens you should remove it and send to another wallet while you are not using it. If you use the L2 chains then it shouldn’t cost too much to move those tokens back and forth.

Seems lately we are getting many threads like this which is based on savings and interest rates. Sure some types of debt are bad. Like you are not suppose to get into debt by buying a MacBook when you can just buy some cheaper PC which will get you by just fine.

Other debt like a mortgage is fine since it’s typically appreciating asset unlike assets such as cars or computers. Credit card debt are the worse because they have the highest interest rate and they can get out of hand very quickly because it’s just so easy to spend all that credit you were given. Hence this is why financial literacy should be taught in schools because it’s getting out of hand lately.

I think decentralization to the masses matters more in developing countries and areas with corrupt governments. Basically it’s risky keeping your money there because they can print more and devalue it or they can get the banks to freeze your money. In North America that isn’t really an issue.

Hence that’s why many want to stay away from the centralization world and want something decentralized like Bitcoin and the new dex that we have right now. People don’t want to depend on a governing body for their safety when the times get tough.

Being in debt is the American Dream. And been that way for a while. Fueled with cheap money and near zero interest rates why are you surprised.

The latest generation has never learnt what a high interest rate environment means. Last time rates were high was 20 years ago and most back then we’re all going to remember. Now people got a little overboard with their debt such as housing debt and auto loans.

The best advice I can give you is just look at the liquidation data from all the perp trading pairs and all exchanges combined. There are websites that provide this data for free. And basically when there is a huge amount of liquidations then generally there is a trend reversal. Sure doesn’t happen every time but many times it does work. And if your stop is tight enough then you can make some strategy around it.

This is probably the easiest way and most reliable. Using moving averages or RSI has so much noise that it’s difficult making money just based off that data alone. If it was easy then everybody would trade that way but it obviously doesn’t work hence why many struggle.

This is a first. I heard from people getting their account frozen but to get it unfrozen by sending more funds to it is just crazy and obviously a scam.

Copy trading is not illegal. The exchange shouldn’t care since they are in the business of making money by trading fees and not whether you make money or not. Almost sounds like some bucket shop.

If they are gone it will be most likely due to regulations and not them running away with your crypto. They did proof of reserves audits and where the ones who called out FTX on their insolvency.

Binance is becoming more like Tether. People think they are going to get scammed but it’s the largest exchange and stablecoin and they will be fine. Need to ignore the FUD. Just don’t keep large amounts of crypto on any exchanges.

These days I actually swing trade ETH more than BTC. And many days ETH has more volume than BTC even if the market cap for BTC is higher.

I think the reason why is because there seems to be more trades for ETH and it’s more volatile. You can scalp 25 ETH all day and for every $10 move you catch that’s over $250 profit and a $10 move on ETH is not uncommon.

It’s happening because people are actually paying these high prices. Look at cars. The average cost of a car is $50K and not only that but there are marks up or mandatory add ons which the dealer adds. Then there is interests rates. So a $50K car is like $1000 a month for 5-6 years.

You would think they would lower prices because it’s too expensive. But guess what . People are actually paying these prices and the dealers and auto makers basically will keep doing what works to make money.

Anyone know what the lowest trading fees are for some of these dexs. I mean something like Uniswap is like 0.3% sometimes and with big Ethereum transfer fees it can get expensive. Basically cheaper to use a CEX.

I went to the dex and tried to find the fees but went nowhere. All they say the fees vary but they don’t actually post any fees.

When you buy a stock it’s basically electronic so you don’t see it but if you pay you can get a stock certificate and put that in your deposit box in the bank.

Keep in mind with stocks there are times when there can be more people holding shares than shares outstanding. It happens when people borrow to short. Basically the same share held by 2 people at least. With a physical stock certificate this obviously wouldn’t be possible.

Well there is hope if Solana becomes popular again. I think they hold like 10% of the entire market cap of Solana. Since its still trading at $20 there is hope it can make its way into the $50-$100 range. If we get into the $100 range then this would be their largest holding valued at $4B.

The rest of the tokens like SRM or FTX I dont think they will be worth much. Even if they start to liquidate them, the price will go down because the supply is just too large. However Solana in a strong bull market might be possible to liquidate all their holdings if done slowly.

Then we might see 50 cents on the dollar. But who knows.

Yes this is going to be an issue. Say we start to rally to $40-60K or so. And what is going to happen if MSTR earnings are released and it shows that they sold a bunch of Bitcoins. What will happen to bitcoins price then? I'll be similar to Tesla when they started to sell their bitcoin holdings.

People will think they are going to dump billions on the market and they will start to sell their bitcoins before MSTR starts to take profits. Right now we dont have to worry because he is at break-even pretty much. Make no sense for him to sell at $30K, however I can see him taking profit this time at $50K if we get there in the near future.